Alternate Mortgage Lenders - Posted by Isaac

Posted by mtgBrkFla. on December 19, 1999 at 22:27:51:

Try a local mortgage broker. I deal only in Fla. There are quite a few Lenders who will allow collections, and any judgement or liens to stay open w/out the borrower having to pay them off. No these Lenders are not “A paper” Lenders. They are B/C guys. That means a higher interest rate, but that might be better than paying off the above mentioned. If you have good credit you’ll be able to get in at aroung 9% fixed for 3 years then Refi out of it. 9% might sound high when the market rates are aroung 7.75%, but, there is no PMI (mortgage insurance) required on these B/C market loans. So the monthly pmt. may not be all that much more. Hope that helps ! Good Luck.

Alternate Mortgage Lenders - Posted by Isaac

Posted by Isaac on December 19, 1999 at 14:33:19:

Hi group!
I’m trying to buy a house the conventional way!!! Going through Chase Manhattan mortgage… As most do the have asked for our entire life story.
Well what it may come down to is this: they may approve the loan, however they may want a few items on the credit report paid off first (Stuff from a prior marriage). Now if they come back and say that, do we have any other options as far as looking for another lender that may be less strict? Are there ways to bargin with the Big lenders? We would really like to get into this house without having to come up with anymore out of pocket money…
Any advice???
Thanks in advance!!!